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Orion to acquire Summit Wealth Systems; Reed Colley to join as President of Orion Advisor Technology

Dec 19, 2024•12 months ago

Acquiring Company

Orion

Acquired Company

Summit Wealth Systems

FinlandSan FranciscoSoftware

Description

Orion, the premier provider of transformative wealthtech solutions for financial advisors, has announced a definitive agreement to acquire Summit Wealth Systems, an award-winning advisor technology provider. When the transaction closes in early 2025, Summit’s CEO, Reed Colley, will join Orion as President of Orion Advisor Technology. With this acquisition, Orion aims to accelerate its growth and innovation in providing pioneering, investor-centric technology to support financial advisors of all sizes and business models.

Company Information

Company

Orion

Location

Finland

About

Orion is a globally operating Finnish pharmaceutical company – a builder of well-being. We develop, manufacture and market human and veterinary pharmaceuticals and active pharmaceutical ingredients. Orion has an extensive portfolio of proprietary and generic medicines and self-care products. The core therapy areas of our pharmaceutical R&D are oncology and pain. Proprietary products developed by Orion are used to treat cancer, neurological diseases and respiratory diseases, among others.

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M&A Insights

Based on deal data
Integration timeline
70% of M&A integrations take 12-24 months to complete
Tech stack consolidation
83% of merged companies consolidate technology vendors within first year
Post-acquisition investment
Companies increase IT spending by 23% on average after acquisitions
Success factor
M&A deals with strong technology integration plans are 2.5x more likely to succeed